XML 26 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating Activities:        
Net income (loss) $ 40,548 $ (45,616) $ 78,999 $ (10,017)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:        
Depreciation and other 33,988 45,174 70,106 93,718
Amortization of intangible assets 3,790 3,309 7,580 6,662
Share-based payments expense 5,174 3,289 9,504 7,192
Windfall excess tax benefits related to share-based payments 0 (160) 0 (686)
Deferred income taxes (10,736) (1,392) (18,558) (3,939)
Restructuring, impairment and related costs [1] 0 0 361 1,680
Loss from equity method investments, net 208 133 415 265
Amortization of deferred financing fees and debt discount 613 692 1,251 1,385
Gain from early extinguishment of debt (418) 0 (11,446) 0
Goodwill impairment 0 85,890 0 85,890
Other (244) 383 (280) (816)
Cash flows from changes in operating assets and liabilities:        
Accounts receivable, net 6,322 3,254 13,185 15,077
Content library 7,723 24,703 40,849 34,659
Prepaid expenses and other current assets (759) (18,976) 5,263 (22,082)
Other assets 170 154 333 322
Accounts payable (17,055) (20,617) (52,460) (17,697)
Accrued payable to retailers 10,248 6,931 (14,398) (11,510)
Other accrued liabilities (4,552) (12,008) 11,521 1,112
Net cash flows from (used in) operating activities [2] 75,020 75,143 142,225 181,215 [3]
Investing Activities:        
Purchases of property and equipment (14,921) (19,508) (28,374) (40,217)
Proceeds from sale of property and equipment 18 2,817 92 2,940
Net cash flows from (used in) investing activities [2] (14,903) (16,691) (28,282) (37,277) [3]
Financing Activities:        
Proceeds from new borrowing on Credit Facility 91,000 77,000 176,000 112,000
Principal payments on Credit Facility (135,687) (68,875) (244,000) (185,750)
Repurchases of notes (Note 7) (2,179) 0 (47,507) 0
Repurchases of common stock 0 (22,023) 0 (62,731)
Dividends paid (10,084) (5,417) (15,122) (11,019)
Principal payments on capital lease obligations and other debt (1,451) (3,033) (3,077) (6,278)
Windfall excess tax benefits related to share-based payments 0 160 0 686
Withholding tax paid on vesting of restricted stock net of proceeds from exercise of stock options (47) 1,887 (1,472) (1,201)
Net cash flows from (used in) financing activities [2] (58,448) (20,301) (135,178) (154,293) [3]
Effect of exchange rate changes on cash (1,471) 1,623 (2,266) 5,367
Change in cash and cash equivalents 198 39,774 (23,501) (4,988)
Cash and cash equivalents:        
Beginning of period 198,850 197,934 222,549 242,696
End of period 199,048 237,708 199,048 237,708
Supplemental disclosure of cash flow information:        
Cash paid during the period for interest 8,620 10,933 20,670 22,846
Cash paid during the period for income taxes, net 38,890 53,905 40,951 66,896
Supplemental disclosure of non-cash investing and financing activities:        
Purchases of property and equipment financed by capital lease obligations 1,146 257 2,902 977
Purchases of property and equipment included in ending accounts payable 654 4,436 654 4,436
Additional cash flow information        
Restructuring, impairment and related costs [1] 0 0 361 1,680
Impairment of lease related assets $ 0 $ 0 $ 0 6,940
Benefit from lease termination       $ 5,200
[1] The non-cash restructuring, impairment and related costs in the six months ended June 30, 2015 of $1.7 million is composed of $6.9 million in impairments of lease related assets partially offset by a $5.2 million benefit resulting from the lease termination.
[2] During the first quarter of 2015 we discontinued our Redbox operations in Canada. Cash flows from these discontinued operations are not segregated from cash flows from continuing operations in the 2015 periods presented. See Note 10: Discontinued Operations for cash flow disclosures related to our discontinued Redbox operations in Canada.
[3] During the first quarter of 2015 we discontinued our Redbox operations in Canada. Cash flows from these discontinued operations are not segregated from cash flows from continuing operations in all periods presented. See Note 10: Discontinued Operations for cash flow disclosures related to our discontinued Redbox operations in Canada.